Mozambique: Shareholder agreement signed for 160MW hydro project


13 Jun 2018 | 1 minute read

InfraCo Africa, part of the Private Infrastructure Development Group, has signed a shareholder agreement with local developer Tora Holding for the 160MW Pavua multi-purpose hydropower project on the Pungué River. The agreement confirms InfraCo as the lead developer, although eleQtra is acting on InfraCo’s behalf, and as majority shareholder for the project.

Tora Holding is owned by Paulo Dambusse Marques Ratilal and Dario Manuel Levy Tome, who also have holdings in the 220MW Boroma and 600MW Lupata hydroelectric projects in Tete province and the 7MW Licungo hydropower project. Pavua is located in central Mozambique along the Beira corridor. 

InfraCo has committed $7.9m for the early stage development of the project, which will include construction of a dam expected to help regulate water flow downstream and reduce flooding. Work on the environmental and social impact assessment for the project is nearly complete and financial close and the start of construction are scheduled for 2020.

“Signing the Pavua shareholder agreement consolidates the work we are doing with our local partners to develop one of Mozambique’s first renewable energy independent power producers”, InfraCo executive director Alex Katon said. “The project will not only support Mozambique’s efforts to meet growing demand for power but will help to mitigate the effects of seasonal rainfall fluctuations and climate change on water supplies in the economically important Beira corridor.”

Image ©InfraCo Africa

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